INEC obliges political parties and candidates to submit election contributions and expenses reports
Every Political Party participating in campaigns for Nigeria elections 2023, shall ensure that its candidates meet the following obligations.
- Maintain a detailed record of all contributions as well as any other source(s) of funds, and the record shall include names, addresses, and occupation of the donor(s) and amount donated.
- Maintain proper books of account and records of all expenses incurred during a political campaign.
- Do not accept or keep in his or her possession any money anonymously donated or other contributions, gifts or property from any source whatsoever.
- Disclose to INEC, records of all contributions and other sources of funds for their campaign, as well as records of expenditure in a prescribed format as may be issued by the Commission.
- Submit detailed audited returns of their campaign expenses to the Commission within six (6) months after an election.
- The audited returns of campaign expenses submitted by a Political Party shall:
- Indicate details of donations, other sources of funding, expenditure on goods, services, and sundry expenses incurred for the purpose of an election
- Be submitted to the Commission in a separate audited return within six (6) months
- after an election
- Be signed by auditors of the Political Party and counter-signed by the Chairman of the Political Party
- Be supported by a sworn affidavit by the signatories as to the correctness of its contents.
The Commission (INEC) is enjoined to remind Political Parties of their obligation to submit required reports to the Commission in accordance with the provision of Section 90(4) of the Electoral Act, 2022; and applicable sanction(s) for failure to comply as provided in Section 89(4) of the Electoral Act, 2022.
The maximum amount of money or other assets that an individual, a group of individuals, or an entity can donate to a political party or aspirant for an election is N50,000,000 (fifty million Naira) only.
A Political Party cannot accept any monetary or other contribution which is more than N50,000,000 except if it identifies and discloses the source of the contribution to the Commission.